Mortgages for building a house
Thu, Aug 12 2010 09:57
| Building a home, Construction Loans, build loans
| Permalink
When considering buying a house, you may look at the option of building a new one instead... this can be a great option as new houses often come with building guarantees; they do not reqire a large amount of maintenance and you can influence the finished design to your tastes. This will ensure that your new house is exactly how you want it.
However, building comes with an element of risk too, which is only overcome by preparation and good management. It is important to be prepared when applying for a construction loan.
Our full article on construction/build loans
+ our TOP 10 TIPS is right here!
Contact us anytime if you'd like to discuss your build options.
However, building comes with an element of risk too, which is only overcome by preparation and good management. It is important to be prepared when applying for a construction loan.
Our full article on construction/build loans
+ our TOP 10 TIPS is right here!
Contact us anytime if you'd like to discuss your build options.
Comments
PRODUCT REVIEW - Revolving Credit
Sun, Aug 8 2010 06:13
| revolving credit, Mortgage Refinance, mortgage restructures
| Permalink
What is a Revolving Credit Facility?
It is a transactional account which is essentially a large overdraft facility and operates in the same way. All or part of the mortgage can be set up as a revolving credit. The pre-approved credit limit of this facility is loaded onto a cheque account and you can choose to repay as much or as little as you like each month - as long as the balance of the facility remained within its limit at all times.
Some facilities have reducing credit limits which reduce each month along the lines of a table mortgage.
If you want maximum flexibility with your home loan then this facility offers that. It works best for people whose income fluctuates or they are on large incomes or receive regular bonuses - all enabling extra payments into the facility; thus reducing interest!
The most important things to remember with a Revolving Credit facility are to:
It is a transactional account which is essentially a large overdraft facility and operates in the same way. All or part of the mortgage can be set up as a revolving credit. The pre-approved credit limit of this facility is loaded onto a cheque account and you can choose to repay as much or as little as you like each month - as long as the balance of the facility remained within its limit at all times.
Some facilities have reducing credit limits which reduce each month along the lines of a table mortgage.
If you want maximum flexibility with your home loan then this facility offers that. It works best for people whose income fluctuates or they are on large incomes or receive regular bonuses - all enabling extra payments into the facility; thus reducing interest!
The most important things to remember with a Revolving Credit facility are to:
- set in up correctly at the start
- understand fully how it works
- review its progress regularly
.. so that you are maximizing the benefits this type of facility provides!
Our full article is available here.
If you want more out of your mortgage and want to know how to refinance and restructure to maximise benefits - CONTACT US anytime no obligation.
Comments (1)
Buying commercial or industrial property
Sun, Aug 8 2010 01:26
| Buying commercial or industrial property
| Permalink
Commercial or industrial property can be a good investment if you understand the risks associated with this type of asset and the manner in which the Banks assess the risk.
It is a popular misconception that the same lending 'rules' apply when bank and non-bank lenders assess the risks associated with commercial and industrial properties, as they use with residential loan applications.
One factor that remains the same for both commercial and residential property when assessing risk profile is the location. Good commercial locations especially those in city centres, will carry less risk to capital protection, value growth and tenant demand, than those in less desirable locations such as regional towns and rural locations.
Read our full article here...
For a free no obligation consultation today, contact our specialist mortgage broker in our commerical team. We have extensive skills, experience and knowledge in this area - view our past projects here.
It is a popular misconception that the same lending 'rules' apply when bank and non-bank lenders assess the risks associated with commercial and industrial properties, as they use with residential loan applications.
One factor that remains the same for both commercial and residential property when assessing risk profile is the location. Good commercial locations especially those in city centres, will carry less risk to capital protection, value growth and tenant demand, than those in less desirable locations such as regional towns and rural locations.
Read our full article here...
For a free no obligation consultation today, contact our specialist mortgage broker in our commerical team. We have extensive skills, experience and knowledge in this area - view our past projects here.
Interest Rates on the move
Thu, Aug 5 2010 01:56
| mortgage rates, interest rates
| Permalink
It didn't take too long before one of the major banks made their move! Floating rates have risen slightly but the fixed rates are on the decrease.
Why does this matter to you?
Because when considering how much a person can borrow the banks normally use the 2 and 3 year fixed rates to calculate the servicing... so, a reduction in those rates increases the borrowing power of you - the buyer!
If you are looking at buying or refinancing give us a call or email us and we'll determine, fairly quickly, just how much you are able to borrow!
Why does this matter to you?
Because when considering how much a person can borrow the banks normally use the 2 and 3 year fixed rates to calculate the servicing... so, a reduction in those rates increases the borrowing power of you - the buyer!
If you are looking at buying or refinancing give us a call or email us and we'll determine, fairly quickly, just how much you are able to borrow!
Reserve Bank raise Official Cash Rate
Thu, Jul 29 2010 01:58
| OCR, interest rates
| Permalink
The Reserve Bank Governor Alan Bollard raised the Official Cash Rate (OCR) this week a quarter up to 3%. This was predicted by most economists in a Reuters survey and they also expect that The Reserve Bank will continue to lift the OCR back to normal levels that we have had in previous years.
The retail banks are yet to react by way of interest rate increases, and in recent times the fixed rates have actually dropped a little from increases earlier in the year, so its a wait and see of who will move first and in what direction!
View our up to date summary of mortgage interest rates.
Use our online calculators to work out your repayments!
The retail banks are yet to react by way of interest rate increases, and in recent times the fixed rates have actually dropped a little from increases earlier in the year, so its a wait and see of who will move first and in what direction!
View our up to date summary of mortgage interest rates.
Use our online calculators to work out your repayments!
The Advantages of Buying a Newly Built House
Wed, Jul 28 2010 08:24
| Buying a new home, Building a home, Construction Loans
| Permalink
When you are looking at purchasing a newly built home you should always...
DEAL with:
DEAL with:
- Good, reputable building/construction companies who will stand behind their work;
- People who offer solid build guarantees;
- Experienced mortgage brokers who understand financing a build;
- Insurers who specialise in covering you throughout the whole process and beyond!
As the old adage goes...
buy a good PROPERTY + in a good LOCATION + at a good PRICE
Our TOP 5 ADVANTAGES to buying a newly built property are:
- Builders Guarantees & Consumer Guarantees Act 1993
- Discounts when buying off the plans
- High tenancy appeal
- Low or no maintenance
- Chattels claim for depreciation
Read the full article here, or visit the Author Kerry Alcock online here.
TIPS on refinancing Commercial Loans
Wed, Jul 28 2010 04:21
| Commercial Loans, Business Finance
| Permalink
We're talking about finance for businesses in New Zealand with reference to the main lenders in this market.
Simply put, the amount that banks are prepared to lend will depend on a number of factors including the security you have to offer and your capacity to fulfil your repayments obligations. The more successful your business is and the stronger your cash flow, the more willing the bank will be to lend. Read more here >>>
Our TOP tip for you:
Whether you are considering buying a new business or have been in business for many years find an experienced broker who deals with business owners and complete a review of your current loan structures - this may help you with your cash flow and save you money!
CONTACT US to arrange a review of your loan structures, personal and business. And if you want to see what past projects we have been involved in click through to our commercial loans information here.
PS: - pass it on - share this blog and article.
Simply put, the amount that banks are prepared to lend will depend on a number of factors including the security you have to offer and your capacity to fulfil your repayments obligations. The more successful your business is and the stronger your cash flow, the more willing the bank will be to lend. Read more here >>>
Our TOP tip for you:
Whether you are considering buying a new business or have been in business for many years find an experienced broker who deals with business owners and complete a review of your current loan structures - this may help you with your cash flow and save you money!
CONTACT US to arrange a review of your loan structures, personal and business. And if you want to see what past projects we have been involved in click through to our commercial loans information here.
PS: - pass it on - share this blog and article.
How to be smart when refinancing your mortgage
Wed, Jul 28 2010 03:38
| Mortgage Refinance
| Permalink
So what is important to you when it comes to your mortgage?
As your mortgage broker it is our role to seek out exactly that - what your want and need; to get to know you and your financial situation then give you options and good advice that is suited to you so that you do get what you want and have what you need!
As your mortgage broker it is our role to seek out exactly that - what your want and need; to get to know you and your financial situation then give you options and good advice that is suited to you so that you do get what you want and have what you need!
Do you want...
? certainty ? flexibility ? control ? financial freedom ? affordability ? to keep it simple ?
Do your finances suit your lifestyle?
Did you know that most people do think they can get a better deal on their home loan and insurances - yet they do nothing about it. Being smart when you refinance is getting the right people working for you, instructing a good mortgage and insurance broker will help you to make changes that benefit you and your family. Read more here.
CONTACT US now to talk through 'whats important to you' or click through to our refinance information here.
PS: - pass it on - share this blog and article!
Repay your mortgage - FAST!
Wed, Jul 28 2010 02:55
| Early Mortgage Repayment, Repay home loan fast
| Permalink
Don't we all want to pay off our mortgage sooner rather than later?
We've written an article giving you some tips on how to do this explaining that the ideal with any debt and importantly your mortgage because usually its your biggest debt, if you can shorten the loan term by paying a little extra, it means the quicker your loan is repaid, which means the less interest you pay the lender... and ultimately the sooner you are mortgage free!
Our TOP tip for you:
If your interest rate increases, so will your mortgage repayments.
Likewise if your interest rate drops so would your mortgage repayments...
If this happens it is always a good idea to keep the same level of repayments going as you were paying before the interest rate decreased - the extra amount will come directly off the principal; therefore paying off your loan more quickly!
Click here to read the full article or CONTACT US now to talk through your situation.
PS: - pass it on - share this blog and article!
We've written an article giving you some tips on how to do this explaining that the ideal with any debt and importantly your mortgage because usually its your biggest debt, if you can shorten the loan term by paying a little extra, it means the quicker your loan is repaid, which means the less interest you pay the lender... and ultimately the sooner you are mortgage free!
Our TOP tip for you:
If your interest rate increases, so will your mortgage repayments.
Likewise if your interest rate drops so would your mortgage repayments...
If this happens it is always a good idea to keep the same level of repayments going as you were paying before the interest rate decreased - the extra amount will come directly off the principal; therefore paying off your loan more quickly!
Click here to read the full article or CONTACT US now to talk through your situation.
PS: - pass it on - share this blog and article!
Buying a home... how to get a home loan
Wed, Jul 28 2010 02:23
| first home buyers, How to get a home loan
| Permalink
We thought you would like to know that we are now sharing our knowledge far and wide via online articles and our first up is on: How to get a home loan
If you would like to know more about getting a home loan mortgage to buy property in New Zealand:
- Whether you want to buy your very first home, or
- maybe you already have a home and want to move on to another;
- or you are a New Zealand resident working abroad and want to invest in your home land.
click here to read the full article and learn more about:
- Pre Approvals
- Security requirements
- Valuations
- Refinancing options
And if you want to talk to us now CONTACT US to arrange your free review.
Phone 09 360 5620 | freephone 0508 PEOPLE | Level 1 - 30 Ponsonby Road Ponsonby Auckland 1011 | Site Map |Terms of Use | Privacy Policy
